Nifty struggles below 8650; ICICI Bank drags, ITC rebounds

Epic Update ICICI Bank
Epic Update ICICI Bank

Equity benchmarks continued to fall in afternoon trade with the Sensex declining 217.42 points to 27874 and the Nifty down 56.05 points at 8635.25.

Banking & financials and technology stocks remained under pressure whereas FMCG and auto stocks gained.

Axis Bank retained its top position in the selling list, down 8 percent on disappointing earnings. ICICI Bank, Tata Motors, HDFC Bank, Asian Paints and Adani Ports were down 1-3 percent.

ITC shares rebounded after reporting better-than-expected cigarette volume growth of 7 percent in Q2. Bharti Airtel gained 2.6 percent after strong margin performance while Maruti Suzuki and Hero Motocorp climbed around 2 percent ahead of earnings.
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